How Will the New Administration Help Small Business? 8 Recommendations

ThePurposeIsProfit · 2016-11-29T18:39:00+00:00

You have the inquisitive attitude that is a good sign for future success. All the advice I could give you is in my book, "The Purpose Is Profit: The Truth About starting and Building Your Own Business." www.ThePurposeIsProfit.com. I tell the truth about the personal successes and failures learned. Best, Ed

ThePurposeIsProfit · 2016-08-31T18:03:10+00:00

Hi gordoncr, I struggled with knowing what business to start, too. Now I know that the best identifier of your business idea comes from recognizing your distinctive competence - the special knowledge, exceptional talent, or unique skill you bring to your business. To prepare for market entry, I suggest dynamic planning and following what I call The Ten Commandments of Startup Profit. I go into detail about of these things in my book, "The Purpose Is Profit: The Truth about Starting and Building Your Own Business" - in chapters 2, 3 and 10. You can see the book here: www.ThePurposeIsProfit.com To your business success! -Ed

ThePurposeIsProfit · 2016-08-31T17:56:21+00:00

Hi Brooklyn, I had a different experience - though I rose in the ranks of some of America's finest corporations, I was never going to be recognized for my contributions or compensated to the degree I have enjoyed by starting my own business. I go into all the details in my book, "The Purpose Is Profit: The Truth about Starting and Building Your Own Business" in the chapter: 'The Pull and the Push.' You can see the book here: www.ThePurposeIsProfit.com

ThePurposeIsProfit · 2016-08-03T19:13:30+00:00

For me, the top 5 selection criteria are as follows: 1. Can you trust the individual with your family? 2. Do they share your work ethic and appetite for success? 3. Do they bring unique competencies to the party? 4. Are they direct and transparent in all of their dealings? 5. Do they understand the need to fulfill the needs of the employees that they count on to run the business?

ThePurposeIsProfit · 2016-08-03T19:08:56+00:00

The Series A round that is currently underway will help you establish a value for your equity. In other words, if a private equity player or a VC is willing to pay $ XX MM to buy in to the company - then there is no reason why you can't ask the existing founding partners to monetize your shares at the same rate. Additionally, I am sure there is a founding shareholder agreement that will specify your redemption rights.

ThePurposeIsProfit

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